WL Ross-backed Navigator files for IPO

Navigator Holdings Ltd. has filed for an IPO. The number of shares to be offered and the pricing terms have yet to be decided. The company plans on trading the stock on the New York Stock Exchange under the ticker symbol “NVGS.” Jefferies and Morgan Stanley & Co. will serve as lead underwriters. Based in London, Navigator owns and operates a fleet of  handysize liquefied gas carriers. WL Ross & Co own a majority stake in the company.


LONDON, October 17, 2013 – Navigator Holdings Ltd. (Navigator) announced today that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC). This filing is made in anticipation of a proposed initial public offering of shares of common stock of Navigator. An application has been made to the New York Stock Exchange to list the shares under the symbol “NVGS.” The number of shares to be offered and the price range for the offering have not been determined.
Navigator is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and provides international and regional seaborne transportation services of liquefied petroleum gas, petrochemical gasses and ammonia for energy companies, industrial users and commodity traders. Its fleet consists of 30 semi- or fully-refrigerated handysize liquefied gas carriers, including one secondhand vessel that it has contracted to acquire for delivery in 2013 and seven newbuilding vessels scheduled for delivery by August 2015.
Jefferies LLC and Morgan Stanley & Co. LLC will act as joint book-running managers and Evercore Group L.L.C., Fearnley Securities AS, Global Hunter Securities LLC and Stifel, Nicolaus & Company, Incorporated will act as co-managers for the offering.
When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC’s website and search under the registrant’s name, “Navigator Holdings Ltd.”
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains “forward-looking” statements within the meaning of the federal securities laws. These statements contain words such as “anticipate,” “assume,” “believe,” “budget,” “continue,” “could,” “estimate,” “expect,” “future,” “intend,” “may,” “plan,” “potential,” “predict,” and “project”and can be impacted by numerous factors, including the risk that an initial public offering of Navigator may not occur, risks relating to the securities markets generally, the impact of adverse market conditions affecting Navigator’s international liquefied gas shipping business, adverse changes in laws and other risks. There can be no assurance that actual results will not differ from those expected by management of Navigator. For more information concerning factors that could affect these statements, see the registration statement relating to these securities filed with the SEC. Navigator undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Navigator becomes aware of, after the date hereof.